The collapse of FTX cryptocurrency exchange has created a liquidity crisis in the crypto space, which could extend the crypto winter through the end of 2023, according to a research report by Coinbase. According to analysts, the FTX implosion could keep the institutional investors at bay because they are even more likely to tread cautiously for some time. The crisis has negatively impacted several crypto-focused companies who have assets stuck on FTX following the company's bankruptcy filing on Nov. 11. Investors also fear the contagion could spread, causing further damage to the cryptocurrency ecosystem. Although several investors were rattled by …

Coinbase CEO and co-founder Brian Armstrong have applauded the work of citizen journalists and blockchain analysts surrounding the unfolding FTX crisis and its former CEO Sam Bankman-Fried. In a Nov. 16 tweet that has been retweeted over 9,000 times at the time of writing, Armstrong suggested that it has been regular citizens, rather than traditional media that has uncovered many of the developments associated with the liquidity crunch and subsequent bankruptcy filing of FTX. Commenting on a recent New York Times "puff piece," Armstrong said it: "Feels like a turning point for citizen journalism and loss of trust in MSM" …

With Solana (SOL) being heavily affected by the FTX debacle, crypto Twitter expressed sympathy and hopes that its community can make a comeback. Being one of many coins that FTX CEO Sam Bankman-Fried (SBF) supported, SOL has been hit heavily amid the FTX collapse. On Nov. 10, the total value locked on the Solana chain has fallen by 32.4%. The SOL token lost almost half of its value, dropping in value from $38 on Nov. 5 to $17 at the time of writing. Because of the devastating things happening to Solana, crypto community members took to Twitter to offer encouragement …

Solana (SOL) has been in a steady downtrend for the past 3 months, but some traders believe that it may have bottomed at $26.80 on Oct. 21. Lately, there's been a lot of speculation on the causes for the underperformance and some analysts are pointing to competition from Aptos Network. The Aptos blockchain launched on Oct. 17 and it claims to handle three times more transactions per second than Solana. Yet, after four years of development and millions of dollars in funding, the debut of the layer-1 smart contract solution was rather unimpressive. It is essential to highlight that Solana …

The year 2022 in crypto was eventful in many ways. However, the negative impacts of a bear market dampened the excitement around the blockchain upgrades that significantly brought crypto ecosystems closer to the future of finance. For Bitcoin, it was the Taproot soft fork upgrade, which was aimed at improving the scripting capabilities and privacy of the Bitcoin network. Ethereum underwent the Merge upgrade to transition from a proof-of-work to a proof-of-stake (PoS) consensus mechanism. Leading decentralized Ethereum scaling platform Polygon kicked off the year with mainnet upgrades based on Ethereum Improvement Proposal (EIP)-1559, otherwise known as the London hard …

In the past year, Polygon (MATIC) has focused on growing their list of high-profile partners which includes luminaries like Disney, Starbucks and Robinhood. The recent announcements of partnerships with both Instagram and JPMorgan have speculators pushing the token price up nearly 200%. In addition to partnerships, blockchain adoption through network usage is important to analyze. Blockchain adoption can be analyzed by looking into daily active users of the blockchain, protocols using the technology, number of transactions and total locked value. Total value locked on Polygon rises above $1B Total value locked (TVL) is one cryptocurrency indicator used to assess the …

October may have seen a decline in nonfungible token (NFT) trading volume and sales, but analytics firm DappRadar says an 18% growth in monthly unique NFT traders shows the market is still in “great demand.” According to a Nov. 3 report from DappRadar, the number of monthly unique NFT traders in October reached 1.11 million, increasing 18% from September, of approximately 950,000. This is despite trading volumes falling 30% to $662 million in October, the lowest registered in 2022, while the sales count decreased by 30% to 6.13 million, the firm said, adding: “The rise in the unique traders’ count …

On this week’s episode of Market Talks, we welcome Jake, also known as “Korean Jew Crypto” on Twitter and the founder of “The Trading Dojo,” a platform that provides quality coaching and education to help traders identify profitable trades on their own. The wide reaching interview covered KJ’s take on how to trade the Federal Open Markets Committee and Consumer Price Index events, along with his views on how Federal Reserve policy is impacting crypto prices. According to KJ: “In regards to what Powell said, and the way the news cycle has been, a few weeks ago I was adamant …

After an impressive 23.7% rally between Oct. 25 and Oct. 31, Binance Chain BNB, has faced a strong rejection from the $330 resistance. Is it possible that the two-day 6% sell-off from the $337.80 peak could indicate that further trouble is ahead? Let’s take a look at what the data shows. Analysts pinned the recent rally to the Oct. 28 news that Binance had invested $500 million in Twitter. However, the network's deposits and decentralized applications metrics have not accompanied the improvement in sentiment. The strong upward movement was largely based on reports that Binance was preparing to assist Twitter …

Polygon (MATIC) emerged as the best-performing asset among the top-ranking cryptocurrencies on Nov. 3 as the market's attention turned to the latest Instagram and JPMorgan announcements. Polygon in high-profile partnerships Notably, Meta, the parent company of Instagram, named Polygon as its initial partner for its upcoming nonfungible token (NFT) tools that allow users to mint, showcase, and sell their digital collectibles on and off the social media platform. Meanwhile, banking giant JPMorgan used Polygon to conduct its first live trade (worth about $71,000) on a public blockchain, marking a concrete step toward integrating cryptocurrencies into the traditional financial frameworks. MATIC, …

Social media platform Instagram is set to introduce a number of nonfungible token (NFT)-related tools that will allow creators to mint, show and sel NFTs. Instagram parent company Meta said on Nov. 2 during its Creator Week 2022 event that the platform would allow its creators to make “digital collectibles” and sell them “both on and off Instagram.” Meta says creators will have an “end-to-end toolkit” from creating, showing, then selling NFTs within the platform and has chosen the Polygon (MATIC) blockchain as an initial partner for this functionality. It says a “small group” of United States-based creators will be …

Multinational banking firm JP Morgan has successfully executed its first ever cross-border transaction using decentralized finance (DeFi) on a public blockchain. The trade was facilitated by the Monetary Authority of Singapore’s (MAS) Project Guardian on Nov. 2 — which was established as part of a pilot program to “explore potential decentralized finance (DeFi) applications in wholesale funding markets.” In other words, the pilot was another step into examining how traditional financial institutions can use tokenized assets and DeFi protocols to conduct financial transactions, among other use cases. Singapore’s largest bank — DBS Bank, Tokyo-based banking firm SBI Digital Asset Holdings …